Detrended Price Oscillator – EFS

DetrendOsc.efs

File Name: DetrendOsc.efs

Description:
Detrended Price Oscillator

Formula Parameters:
Length : 14
Source of Price : Close

Notes:
The Detrend Price Osc indicator is similar to a moving average,
in that it filters out trends in prices to more easily identify
cycles. The indicator is an attempt to define cycles in a trend
by drawing a moving average as a horizontal straight line and
placing prices along the line according to their relation to a
moving average. It provides a means of identifying underlying
cycles not apparent when the moving average is viewed within a
price chart. Cycles of a longer duration than the Length (number
of bars used to calculate the Detrend Price Osc) are effectively
filtered or removed by the oscillator.

Download File:
DetrendOsc.efs

EFS Code:

/*********************************Provided By:      eSignal (Copyright c eSignal), a division of Interactive Data     Corporation. 2009. All rights reserved. This sample eSignal     Formula Script (EFS) is for educational purposes only and may be     modified and saved under a new file name.  eSignal is not responsible    for the functionality once modified.  eSignal reserves the right     to modify and overwrite this EFS file with each new release.Description:            Detrended Price Oscillator    Version:            1.0  04/13/2009Formula Parameters:                     Default:    Length                              14    Source of Price                     CloseNotes:    The Detrend Price Osc indicator is similar to a moving average,     in that it filters out trends in prices to more easily identify     cycles. The indicator is an attempt to define cycles in a trend     by drawing a moving average as a horizontal straight line and     placing prices along the line according to their relation to a     moving average. It provides a means of identifying underlying     cycles not apparent when the moving average is viewed within a     price chart. Cycles of a longer duration than the Length (number     of bars used to calculate the Detrend Price Osc) are effectively     filtered or removed by the oscillator.**********************************/var fpArray = new Array();var bInit = false;function preMain() {    setStudyTitle("Detrended Price Oscillator");     setCursorLabelName("Detrend Osc",0);    setDefaultBarFgColor(Color.red,0);    addBand(0, PS_SOLID, 1, Color.blue, 1);        var x=0;    fpArray[x] = new FunctionParameter("nLength", FunctionParameter.NUMBER);    with(fpArray[x++]) {        setName("Length");        setLowerLimit(1);        setDefault(14);    }    fpArray[x] = new FunctionParameter("sPrice", FunctionParameter.STRING);	with(fpArray[x++]){        setName("Source of Price");        addOption("open");         addOption("high");        addOption("low");        addOption("close");        addOption("hl2");        addOption("hlc3");        addOption("ohlc4");         setDefault("close");     }    }var xDPO = null;function main(sPrice, nLength) {var nBarState = getBarState();var nResult = 0;    if (nBarState == BARSTATE_ALLBARS) {        if (sPrice == null) sPrice = "close";                if (nLength == null) nLength = 14;    }    if (bInit == false) {        xDPO = efsInternal("Calc_DPO", nLength, sPrice);        bInit = true;    }    nResult = xDPO.getValue(0);    return nResult;}var xSMA = null;var xSource = null;var bSecondInit = false;function Calc_DPO(nLength, sPrice) {var nRes = 0    if (getCurrentBarCount() <= nLength) return;    if (bSecondInit == false) {        xSource = eval(sPrice)();        xSMA = sma(nLength, xSource);        bSecondInit = true;    }    nRes = xSource.getValue(0) - xSMA.getValue(0);    return nRes;}